Ontario's Ford suspends U.S. electric surcharge, says Lutnick agrees to trade talks

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20. 20% is a fraction of what he promised

https://abcnews.go.com/Business/trumps-proposed-tariffs-raise-prices-products-experts/story?id=115893557

Trump's proposed tariffs would raise prices for these products, experts say
“This will directly impact people’s pocketbooks,” one expert said.
ByMax Zahn
November 18, 2024, 3:53 PM

President-elect Donald Trump has promised a major escalation of the nation’s tariffs.

Trump has proposed tariffs of between 60% and 100% on Chinese goods, and a tax of between 10% and 20% on every product imported from all U.S. trading partners.

Economists widely forecast that tariffs of this magnitude would increase prices paid by U.S. shoppers, since importers typically pass along a share of the cost of those higher taxes to consumers.

Trump's tariffs would cost the average U.S. household about $2,600 per year, according to an estimate from the Peterson Institute for International Economics.

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